These Are the Countries America Has the Biggest Trade Deficits WithThese Are the Countries America Has the Biggest Trade Deficits WithThis post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. Trade deficits are usually beneficial to countries in systems of open and free trade, allowing both countries to take advantage of cheaper foreign goods, increasing economic growth and consumer happiness. The U.S. Trade DeficitCC7 / Shutterstock.comThere is a difference between the trade deficit and the budget deficit of the United States. While a trade deficit is not a bad thing, it continues to be used as a political tool by right-wing personalities to stoke fear and xenophobia among people who don’t understand what a trade deficit is or how it actually benefits them. #6 Canadacon4tini / Flickr2023 Deficit : $67,861,000,000The trade between Canada and the United States is the largest trade relationship in the world.